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7h ago

Vikram Solar, Patel Retail, Gem Aromatics and Shreeji Shipping to List Tuesday as GMP Points to Premiums

Heavy demand marked the offers, with quoted premiums remaining speculative.

Vikram Solar IPO Listing Date
Vikram Solar IPO | Image: Vikram Solar
Vikram Solar Vs Patel Retail vs Shreeji Shipping Vs Gem Aromatics

Overview

  • The four mainboard IPOs are slated to debut on the NSE and BSE on August 26 after allotments were finalised on August 22.
  • As of Aug. 25, InvestorGain’s unofficial grey market quotes were Rs 41 (Vikram Solar), Rs 48 (Patel Retail), Rs 33 (Shreeji Shipping) and Rs 28 (Gem Aromatics), implying estimated listing prices near Rs 373, Rs 303, Rs 286 and Rs 353 respectively.
  • Subscriptions were robust: Patel Retail about 95.70 times, Shreeji Shipping 58.1 times, Vikram Solar 54.63 times and Gem Aromatics 30.27 times.
  • Vikram Solar’s Rs 2,079.37 crore issue comprised a Rs 1,500 crore fresh tranche and a Rs 579.37 crore OFS, with most fresh proceeds intended for capital expenditure and a portion for general corporate purposes.
  • Gem Aromatics plans to use fresh proceeds for debt reduction and general corporate needs, with JM Financial and MUFG Intime handling Vikram Solar’s issue and Motilal Oswal and KFin managing Gem Aromatics.